Karrar

Karrar is a youth client from Iraq. He is 20 years old and lives with his big family of 10 members. Karrar, his parents and two of his brothers, together, provide the family income.

Karrar owns a small shop where he sells speakers and surround systems. He also provides his neighborhood with internet services. Karrar established his business in 2012, and has gained his experience in this field while helping his friend who had a similar shop in another city. Thanks to his granted services, Karrar gained an excellent reputation in the surrounding area.

Karrar is requesting a youth loan of $1,800 USD to pay the annual rent of his shop. He is aiming to grow his business and increase his profits so he may help his parents, not only in providing the family living, but also to help them in paying the school fees for his other brothers and sisters.

Additional Information

More information about this loan

This loan is helping support a borrower who is under the age of 35. Because many young people lack business experience or established credit histories, it can be even more difficult for them to access financial services. By funding this youth loan, you are expanding opportunity for a young person with limited resources.

About CHF International Access to Credit Services Initiative

CHF International Access to Credit Services Initiative Iraq has played a significant role in the rehabilitation of the Iraqi economy. As the largest microfinance institution in Iraq, ACSI is well-positioned to provide quality financial services. When lending through CHF, please consider the following:

1. Due to social and political challenges in Iraq, personally identifiable attributes of this borrower may have been altered to protect their identity (i.e. blurring portions of the borrower's photo, anonymizing name and location, etc.). CHF appreciates Kiva lenders' understanding of these challenges and encourages lenders to continue their support for Iraqi borrowers.

2. To cater to more Iraqi borrowers, CHF offers loans that comply with Islamic law. A key principle of Islam is the prohibition of charging interest on a loan. In order to offer loans in a manner consistent with borrowers' values, CHF will charge 0% interest on this loan. However, the organization does charge a flat service fee to cover its costs. The loan amount you see listed on Kiva includes both the principal loan and this additional fee. As with all Kiva loans, you should expect to have your funds returned to you according to this loan’s repayment schedule. For more information on lending in the Muslim world, please click here.

3. Please note that CHF has not been visited by any members of Kiva's staff. Due to ongoing security concerns, due diligence was conducted remotely. ACSI does, however, meet all of the minimum criteria for partnership with Kiva.

4. While Kiva has been able to send and receive funds to and from Iraq in the past, there is a possibility that future loan repayments could be delayed for regulatory reasons, even if individual borrowers pay back their loans. When you make a loan through CHF, you assume this additional risk.